Presentation to the Annual General Meeting Rik Parkhill, Chief - - PowerPoint PPT Presentation

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Presentation to the Annual General Meeting Rik Parkhill, Chief - - PowerPoint PPT Presentation

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Presentation to the Annual General Meeting Rik Parkhill, Chief Executive Officer March 21, 2013 AGENDA Summary Financial Performance Strategy Community Conclusion 1 SUMMARY 2012 continued to be economically challenging for

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Presentation to the Annual General Meeting

March 21, 2013 Rik Parkhill, Chief Executive Officer

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  • Summary
  • Financial Performance
  • Strategy
  • Community
  • Conclusion

AGENDA

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 2012 continued to be economically challenging for the region

  • Caribbean negatively affected by lackluster performance of

Europe and US

  • Prolonged global recession resulting in low interest rates
  • Credit environment reflects the tough economic climate

 CIBC FirstCaribbean’s core franchise remains strong

 Capital asset ratio of 24% – well in excess of statutory

requirements

 Adopted five strategic priorities for growth  Focused on enhancing sales and customer service

excellence

SUMMARY

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  • Summary
  • Financial Performance
  • Strategy
  • Community
  • Conclusion

AGENDA

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FINANCIAL SUMMARY

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Given the current economic environment, management believes it prudent to sustain the semi-annual dividend at current levels until earnings demonstrate steady improvement 2008 2009 2010 2011 2012 Net Income* (US$ millions) 180 157 117 74 72 Earnings per Share (US Cents) 11.5 11.2 10.1 4.6 4.4 Dividends per Share(US Cents) 6.0 6.0 6.0 4.5 3.0 Regulatory Capital 20% 22% 22% 22% 24% Return on Equity 13.3% 12.3% 10.2% 4.6% 4.4%

* Adjusted for one-off items

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TOTAL REVENUE AND OPERATING EXPENSES

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543 507 563 568 551 348 338 317 320 314 2011 2010 2009 2008 2012 Expenses Revenue US$ millions Efficiency Ratio: 57% 56% 56% 67% 64%

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LOANS AND ADVANCES AND CUSTOMERS DEPOSITS

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6,832 6,616 6,576 6,905 6,814 9,625 9,399 7,943 8,658 9,196 2011 2010 2009 2008 2012 Loans Deposits US$ millions

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LOAN LOSS EXPENSES 120 87 73 43 32 2012 2011 2010 2009 2008

Non-performing loans are too high . . .

US$ millions

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  • Summary
  • Financial Performance
  • Strategy
  • Community
  • Conclusion

AGENDA

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STRATEGY Strategic Priorities  Cultivating deeper relationship with our clients  Focusing on value for our clients through understanding their needs  Competing in businesses where we can leverage expertise to deliver value  Pursuing risk-controlled growth in the region  Continuously investing in our client base, people and infrastructure

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CULTIVATING DEEPER RELATIONSHIPS

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 Launched social media channels for improved client engagement  Launched new CIBC FirstCaribbean Rewards programme

Service excellence is the hallmark of cultivating deeper relationships

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UNDERSTANDING CLIENTS’ NEEDS

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 Systems enhancements to capture information that helps us make better decisions are underway

By improving our understanding of clients’ needs we will increase the value we deliver to them

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LEVERAGE OUR EXPERTISE

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 By combining CIBC’s expertise with our extensive local knowledge we have built a strong advisory service

Our parent has deep industry sector expertise

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PURSUING RISK-CONTROLLED GROWTH

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 Focus is on risk management to build a foundation for stronger performance and growth when our economies improve  Investments should improve both risk management and customer service

We are strengthening the Bank’s credit adjudication systems and processes

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INVESTING – IN CLIENTS AND INFRASTRUCTURE

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 Completed the CIBC FirstCaribbean co-branding  Opened new model branches in the Bahamas, Belize, St. Lucia and Barbados offering tailored experiences to each client segment  First electronic branch at Coverley, Barbados

CIBC FirstCaribbean represents the proud heritage and uniqueness of the Caribbean region, backed by the strength

  • f CIBC
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INVESTING – IN OUR PEOPLE

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74 77 73 71 Jan 11 Jan 10 Oct 08 Oct 12

The Bank remained focused on increasing employee commitment and development

 Provided training in frontline customer service and leadership development  Immersion staff assignments with CIBC Canada  Aligned survey with CIBC Employee Commitment Index Percent

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  • Summary
  • Financial Performance
  • Strategy
  • Community
  • Conclusion

AGENDA

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COMMUNITY PARTNERSHIP

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The Bank again invested 1% of profit in community causes

 Unsung Heroes  Staff volunteerism: Adopt -a-Cause  University of the West Indies  Youth Entrepreneurship  Endangered Ecosystem Environmental projects  YWCA breakfast programme  Barbados Fruits and Vegetables project

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  • Summary
  • Financial Performance
  • Strategy
  • Community
  • Conclusion

AGENDA

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 2012 was an economically challenging year for the Caribbean  CIBC FirstCaribbean’s core franchise remains strong

 Capital asset ratio of 24% – well in excess of statutory

requirements

 Bank is well positioned for growth

 Limited economic growth is expected in 2013

CONCLUSION

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Presentation to the Annual General Meeting

March 21, 2013 Rik Parkhill, Chief Executive Officer